Some Errors We Make In Trading Crypto

[tazmantasik]

When a person reaches the level of understanding the market, he is capable of doing any type of negotiation and being able to have all kinds of profit, but you have to know how to do it because there are feelings such as panic or overconfidence that can affect our decisions, in fact, sometimes it is better to make trading decisions without seeing the news or any other means of communication, because it would interrupt our analysis, and sometimes the news itself does not predict, but rather accommodates everything to try to find the explanation for a certain market movement.

I think when trader have reaches with level understanding with market condition will try carefully when entering some altcoin for trading, not panic when buying or selling assets because have understood about price could be drop drastically without predicting before. I think have several kinds of trader why losing money on cryptocurrency, some of them really panic when buying coin on higher price and later when price drop most panic for selling although price have been drop and waiting for recovery or back to higher price.

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[livingfree]

one of my greatest mistake as a trader is going into a Bullish market for a sell instead of maintaining my Buying position , when my indicator signified pull back in a lower time frame    ......later got hit by my stop loss

If my understanding is correct, bullish seasons are the right time to sell and buying by that time isn't really that good unless there's a higher price during that bull.

As for setting stop loss, that's really the purpose of it.

That's going to minimize the potential losses that you'll get instead of no stopping as the market plunges so it's still a good thing that has happened to you.

[Leebabe]

Going all in is a very big one. A lot of people know the rules of trading but sometimes they tend to go against it.. Indiscipline.Now indiscipline is another one .Repeating the same mistakes in trading is even a bigger mistake

[kryptocanon]

Repeating the same mistakes in trading is even a bigger mistake

As said, mistake are meant to be make. But for a man to be making the same mistakes over and over simply means he's protecting his beliefs instead of learning from them mistakes and changing his beliefs in response to conflicting evidence. However, greediness causes most of these mistakes.

[Quidat]

Repeating the same mistakes in trading is even a bigger mistake

As said, mistake are meant to be make. But for a man to be making the same mistakes over and over simply means he's protecting his beliefs instead of learning from them mistakes and changing his beliefs in response to conflicting evidence. However, greediness causes most of these mistakes.

True. If you are trying to make things work on where you do really believe that it could really happen or succeed is a signal or shows that you arent accepting mistakes or learning from it.
Yes, it would really be that hard to make yourself progress if you do really have this kind of mindset.Errors is inevitable but if you are really that mindful about on making yourself sustainable
then you would really be avoiding on things which you had experienced that it wont work but well it might be precise but at least you are already been aware
and knows potential things to happen.

[fullhdpixel]

If my understanding is correct, bullish seasons are the right time to sell and buying by that time isn't really that good unless there's a higher price during that bull.

As for setting stop loss, that's really the purpose of it.

That's going to minimize the potential losses that you'll get instead of no stopping as the market plunges so it's still a good thing that has happened to you.

Your understanding is in line, the thumb rule for trading is clearly stated, you buy low and sell high. By now, anyone in the crypto space is supposed to know the rule, I don’t think anyone should have any regrets making sales in the bullish season, because during that time, the prices of tokens are high, so you sell and take your profits and when it gets to the bearish season, you simply maintain your position, just hold your coin and wait for a subsequent rise, though most bearish seasons come with losses, even the coins you hold may tend to drop value and the exact amount you invested goes down the drain right before your very eye. You just need to stay vigilant and follow the market so as not to be kept in the dark.

[FanEagle]

This is much, very, very much – several errors we make while trading crypto are numerous but I actually think there are a few that are very common, and people keep on doing it probably, maybe out of ignorance or impatience.

First of all, I believe people go into trading thinking it’s a get rich quick kind of thing – that feeling alone is totally wrong, and once the feeling is wrong, your decisions in the market are bound to go wrong too.

Trading requires lots of patience, which also leads to another error people commit, which is going all in error. Most people literally put all their savings into it, expecting a miraculous and speedy turnaround or magic – at this point I am lost. I feel you’re actually being greedy for going all in and as a punishment, you most time lose all your investments in just one trade.

Again, people has the perspective of the which coins to buy, the feel that they are supposed to buy just any kind of coin just because it’s low and expect to sell high… What if that coin never grows? Or what if it diminishes??

[RealMalatesta]

one of my greatest mistake as a trader is going into a Bullish market for a sell instead of maintaining my Buying position , when my indicator signified pull back in a lower time frame    ......later got hit by my stop loss

If my understanding is correct, bullish seasons are the right time to sell and buying by that time isn't really that good unless there's a higher price during that bull.

As for setting stop loss, that's really the purpose of it.

That's going to minimize the potential losses that you'll get instead of no stopping as the market plunges so it's still a good thing that has happened to you.

Stop loss is basically the motor stop of all crypto trading. It means that you are going to get out if something scary happens, prevent a crash and keep you alive. I keep saying that stop loss should be used in a way where you could be crashing so hard that it would be an idiotic move not to sell. Like for example Bitcoin dropped recently didn't it? You didn't need to do a stop loss there, you could make a long time purchase and just DCA that to recover in the quicker return time period. However when you see Luna, you understand why you need a stop loss, because if you did a stop loss even at 99% drop, you could have saved yourself and make more profit.

[TimeTeller]

one of my greatest mistake as a trader is going into a Bullish market for a sell instead of maintaining my Buying position , when my indicator signified pull back in a lower time frame    ......later got hit by my stop loss

If my understanding is correct, bullish seasons are the right time to sell and buying by that time isn't really that good unless there's a higher price during that bull.

As for setting stop loss, that's really the purpose of it.

That's going to minimize the potential losses that you'll get instead of no stopping as the market plunges so it's still a good thing that has happened to you.

Stop loss is basically the motor stop of all crypto trading. It means that you are going to get out if something scary happens, prevent a crash and keep you alive. I keep saying that stop loss should be used in a way where you could be crashing so hard that it would be an idiotic move not to sell. Like for example Bitcoin dropped recently didn't it? You didn't need to do a stop loss there, you could make a long time purchase and just DCA that to recover in the quicker return time period. However when you see Luna, you understand why you need a stop loss, because if you did a stop loss even at 99% drop, you could have saved yourself and make more profit.

But most traders won't use that strategy because they thought they know the market well.
Who would have thought that LUNA will crash this badly?
Aside from few Youtubers who predicted about this Luna catastrophe, a lot of holders were actually hoping to gain from this investment.
But I do agree with the use of stop-loss strategy, it may be your savior in some of your trades.

[Natalim]

But most traders won't use that strategy because they thought they know the market well.
Who would have thought that LUNA will crash this badly?
Aside from few Youtubers who predicted about this Luna catastrophe, a lot of holders were actually hoping to gain from this investment.
But I do agree with the use of stop-loss strategy, it may be your savior in some of your trades.

Perhaps, this strategy works so well and has been used by most traders. The market crash seems unpredictable, but the use of the stop-loss strategy has big helped to protect our funds. Understanding the current situation, I'd found this is really needed for us traders. We can really appreciate how this works if we try which I think that many just neglected.

However, this is not just the reason why we often suffer losses it is also how we make decisions. Buy low and sell high still the strategy to follow but somehow, it turns opposite we buy high and sell low.

[awik p]

one of my greatest mistake as a trader is going into a Bullish market for a sell instead of maintaining my Buying position , when my indicator signified pull back in a lower time frame    ......later got hit by my stop loss

If my understanding is correct, bullish seasons are the right time to sell and buying by that time isn't really that good unless there's a higher price during that bull.

As for setting stop loss, that's really the purpose of it.

That's going to minimize the potential losses that you'll get instead of no stopping as the market plunges so it's still a good thing that has happened to you.

Stop loss is basically the motor stop of all crypto trading. It means that you are going to get out if something scary happens, prevent a crash and keep you alive. I keep saying that stop loss should be used in a way where you could be crashing so hard that it would be an idiotic move not to sell. Like for example Bitcoin dropped recently didn't it? You didn't need to do a stop loss there, you could make a long time purchase and just DCA that to recover in the quicker return time period. However when you see Luna, you understand why you need a stop loss, because if you did a stop loss even at 99% drop, you could have saved yourself and make more profit.

But most traders won't use that strategy because they thought they know the market well.
Who would have thought that LUNA will crash this badly?
Aside from few Youtubers who predicted about this Luna catastrophe, a lot of holders were actually hoping to gain from this investment.
But I do agree with the use of stop-loss strategy, it may be your savior in some of your trades.

there are many stories about saving assets by stoploss, which actually cannot be underestimated, especially for us trading in the long term, for example like yesterday's luna, just put our stop loss at 30%, of course terrible things don't happen. with a sudden decline in the market indicates something is not healthy for the market. therefore we must be able to minimize risk, although sometimes we are deceived when the stop loss is picked up and the price goes up again

[Mahanton]

one of my greatest mistake as a trader is going into a Bullish market for a sell instead of maintaining my Buying position , when my indicator signified pull back in a lower time frame    ......later got hit by my stop loss

If my understanding is correct, bullish seasons are the right time to sell and buying by that time isn't really that good unless there's a higher price during that bull.

As for setting stop loss, that's really the purpose of it.

That's going to minimize the potential losses that you'll get instead of no stopping as the market plunges so it's still a good thing that has happened to you.

Stop loss is basically the motor stop of all crypto trading. It means that you are going to get out if something scary happens, prevent a crash and keep you alive. I keep saying that stop loss should be used in a way where you could be crashing so hard that it would be an idiotic move not to sell. Like for example Bitcoin dropped recently didn't it? You didn't need to do a stop loss there, you could make a long time purchase and just DCA that to recover in the quicker return time period. However when you see Luna, you understand why you need a stop loss, because if you did a stop loss even at 99% drop, you could have saved yourself and make more profit.

But most traders won't use that strategy because they thought they know the market well.
Who would have thought that LUNA will crash this badly?
Aside from few Youtubers who predicted about this Luna catastrophe, a lot of holders were actually hoping to gain from this investment.
But I do agree with the use of stop-loss strategy, it may be your savior in some of your trades.

there are many stories about saving assets by stoploss, which actually cannot be underestimated, especially for us trading in the long term, for example like yesterday's luna, just put our stop loss at 30%, of course terrible things don't happen. with a sudden decline in the market indicates something is not healthy for the market. therefore we must be able to minimize risk, although sometimes we are deceived when the stop loss is picked up and the price goes up again

Majority does really set out any stop losses because they are really still hoping for some recovery which means that whenever the price or market declines then those losses arent still realized
which  means there's a chance for some break even or recovery and thats the main reason on why some people doesnt really intent to make use of this useful tool but for those
who do love scalping or day trading then this tool would really be that relevant or too important. Errors on dealing with the market or simply trades?
There's a lot and you are the ones who do need to learn so that you would able to avoid it for next time.

[sensimilia]

Basically, there are many things that must be considered in trading because trading is not just buying and selling coins,
it is important indeed to have skills in analyzing market movements and that will help us to make a profit,
having a lot of experience is also good to make ourselves develop

The things that a person needs to keep in mind in order to trade are general knowledge of how much to trade in his shop.  If you have to buy coins and sell them at a higher price then they will make a lot of profit. If you trade in this way then you will make a profit.

[stomachgrowls]

Basically, there are many things that must be considered in trading because trading is not just buying and selling coins,
it is important indeed to have skills in analyzing market movements and that will help us to make a profit,
having a lot of experience is also good to make ourselves develop

The things that a person needs to keep in mind in order to trade are general knowledge of how much to trade in his shop.  If you have to buy coins and sell them at a higher price then they will make a lot of profit. If you trade in this way then you will make a profit.

Stick with the basics which is in common line like "BUY LOW SELL HIGH" kind of line but doing the thing isnt the simplest to be done yet there are lots of factors which would really be affecting your decision.

Buying coins isnt something that you could just do without any basis or analysis and selling or buying time is something a decision which would be your toughest choice to be done anytime you would
really need to make out a decision.
Errors and mistakes are common but you should try you best on lessening those risk as much as you could and this is where people do very
in between those profitable and losers.

[Oshosondy]

The things that a person needs to keep in mind in order to trade are general knowledge of how much to trade in his shop.  If you have to buy coins and sell them at a higher price then they will make a lot of profit. If you trade in this way then you will make a profit.

I have been trading fo like 2 to 3 years now, it is easy to say someone should buy low and sell high which means to buy at low price and sell at high price, that is simple to say, that is just one of the basic things to learn in trading but not an actual way to earn and make profit. A trader can check the market, if not analysed very well, the trade can buy at wrong time or sell at wrong time thinking it is right until he starts and continue to lose. But what you said applied to holding.

[molsewid]

In general, it is difficult to find a person who would not make mistakes. I would even say that it is impossible. Even when I started working with a broker from Amarkets, at first I worked on a demo account for a long time in order to gain enough experience.

Yep! In my own experience, here in our country we have our own stock market and before I invested some money I use the demo account fund for me to learn the basic things in trading. Trading without even a simple knowledge could be very hard for us in the future, we need to widen up our knowledge so that in times like this (bear market) we will already have backup plans.

[Pandu Geddon]

Yep! In my own experience, here in our country we have our own stock market and before I invested some money I use the demo account fund for me to learn the basic things in trading. Trading without even a simple knowledge could be very hard for us in the future, we need to widen up our knowledge so that in times like this (bear market) we will already have backup plans.

not many new traders understand how to manage trading assets when market trends change. even in a downturn, most new traders will sell at a loss.

I usually set some prices below when there is a decline. the original intention was to only enter with some of the money. and when prices continue to fall eventually have to go all in and save for investment. from the initial short term planning, my mistake turned it for the long term by buying more on the basics.
my main mistake, not using stop loss when placing an order.

[Fatunad]

In general, it is difficult to find a person who would not make mistakes. I would even say that it is impossible. Even when I started working with a broker from Amarkets, at first I worked on a demo account for a long time in order to gain enough experience.

Yep! In my own experience, here in our country we have our own stock market and before I invested some money I use the demo account fund for me to learn the basic things in trading. Trading without even a simple knowledge could be very hard for us in the future, we need to widen up our knowledge so that in times like this (bear market) we will already have backup plans.

Its just common sense or should be standard on making yourself to be aware or even learning with the basics.Dont try to make out some shortcut because this would
surely fucked you up and lose money on your early engagement although it isnt really that avoidable but at least you do lessen out the severity of losing money
which you might able on hardly to make yourself recover or accept it out thats why familiarize and learn up based on your experience and mistakes
and make yourself way more better.

[so98nn]

Unfortunately, mistakes in trading are quite common. But do not forget that in the end this leads to quite positive results, because the trader thus gains experience.

I’m not entirely positive about this statement. The problem is, this is not something where you should keep doing mistakes and learn from it. It’s trading, it’s all about money. The market is hugely mistaken for giving a lot but the thing is it takes from someone and gives to someone. The money does not just comes to your account when you make right trading but it’s because someone is selling or loosing at that particular time. Obviously there are different types of trades and each of them has there own inputs and outputs. But, it’s better to jump into trading once you learn analysis properly.

[virasisog]

Crypto is not a get-rich-quick scheme

Having the mindset of investing in crypto to get rich could lead you on the wrong path. You could make wrong decisions which may cause you to lose a lot. Yes, we could possibly gain a good profit but we should never disregard the risks of crypto investment. It isn't a shortcut to success because it will take a lot of courage to deal with the volatility of the market. Trading is a long process of learning so we should have the proper mindset towards it.